Jason got his first taste of real estate investing after joining a local real estate club. In 2012, he made his first transaction and hasn’t looked back since. Jason founded HoustonHouseBuyers in July of 2013. In its' first year they produced $3MM of gross revenue, through wholesaling, leasing, and flipping 70 houses. HoustonHouseBuyer's is expected to buy 100 houses in 2015 and produce nearly $6M in gross revenue.
In this episode Jason talks about some of the realities he feels most new investors aren’t prepared for. We want you to be prepared so we discussed them in length.
Key takeaways are that this should always be looked at as a business and not just something you can do willy nilly.
Always focus on a strategy and become the best at it because you will get nowhere fast by trying to learn and use every tactic out there.
Things I’ve run into:
Contractors don’t all do a great job, manage themselves, get done on time and all for a great price and you will have to have the courage to fire them.
There are a lot of people out there that are will to sign a contract and then not honor it (sellers, buyers, everybody in between).
When a seller says the house doesn’t need any work, rarely is it true.
There are places in town where druggies will attempt to jump into your moving vehicle.
Nobody is going to care about your work as much as you will (realtors, contractors, other investors)
The hours aren’t going to be 9-5.
I’m sure you’ve run into issues that you didn’t expect. What were they (let us know in the comments)?